Category: Industry
Fulltime Path
Aug 17, 2011 (LBO) – Residents in Sri Lanka could enroll as fulltime students of University of Ballarat in Australia through a study centre in Colombo under an education service deliver structure implemented for the first time in the island, officials said. The Sri Lanka centre is run by the Australian Technical and Management College […]
International Campus
Aug 17, 2011 (LBO) – Sri Lanka is on track to get about ten foreign universities under an initiative to expand tertiary education with Bangkok based Asian Institute Technology among them, an official said. The AIT is expected to set up a campus in Hambantota in Southern Sri Lanka, higher education ministry secretary Sunil Jayantha […]
Financial Gain
Aug 16, 2011 (LBO) – Sri Lanka’s LOLC group, which has interests in finance, trading, plantations, energy and leisure said profits for the June 2011 quarter rose 138 percent to 1.75 billion rupees from a year earlier, helped by a capital gain. The firm reported earnings of 3.63 for the quarter. The stock closed at […]
Financial Closure
Aug 16, 2011 (LBO) – China Development Banking Corporation will loan 350 million US dollars for a 500 million US dollar container terminal in Colombo to be built by a Sino-Lanka joint venture, state-run Sri Lanka Ports Authority said. The first 600 metres of quay will be completed by December 2013. The terminal will eventually […]
Group Net
Aug 15, 2011 (LBO) – Group profits of Sri Lanka’s NDB Bank fell 8 percent to 396 million rupees in the June 2011 quarter with lower fee income and an 84 million write-off of an investment in the Maldives, interim accounts showed. The bank has earnings of 2.42 for the quarter and 6.10 for the […]
BOT Deal
Aug 15, 2011 (LBO) – A 35-year build operate transfer deal has been signed between state-run Sri Lanka Ports Authority and Colombo International Container Terminal (CICT), a Sino-Lanka joint venture, the firm’s major shareholder said. China Merchants International, a Hong Kong listed Chinese state-run firm which has a 55 stake in the terminal company said […]
‘s defeat to Australia
HAMBANTOTA, August 14, 2011 (AFP) – Ricky Ponting cracked an impressive 90 not out to steer Australia to an easy eight-wicket victory over Sri Lanka in the second one-day international on Sunday. Ponting also added 94 for the second wicket with in-form opener Shane Watson (43) after the early dismissal of Brad Haddin. “The game […]
Cook says being No 1 just the start for England
BIRMINGHAM, August 14, 2011 (AFP) – Alastair Cook said England were at the start of a journey, rather than the end of it, after becoming the world’s number one Test side. “I think we’re on the way to doing something special,” said Cook. “But I think we’re still at the start of a journey, rather […]
Hatton Profits
Aug 13, 2011 (LBO) – Sri Lanka’s Hatton National Bank group’s net profit for the June 2011 quarter rose 6 percent to 1.29 billion rupees from a year earlier, amid tighter net interest growth, while revenues grew 6 percent to 10.1 billion rupees. Group loan loss provisions were a 73 million write back for the […]
Exit Plan
Aug 13, 2011 (LBO) – Sri Lanka’s Hatton National Bank said it will exit from Delma Exchange, a remittance house in the United Arab Emirates which expatriate workers use to send money home. In the five months to May remittances rose 28 percent to 2.1 billion US dollars. “[The] Board of Directors have decided to […]
Sri Lanka Softlogic buys insurer
Aug 12, 2011 (LBO) – Sri Lanka’s Softlogic Holdings group today brought a 73.5 percent stake in Asian Alliance Insurance, a listed insurer for 3,308 million rupees, at 120 rupees per share. Softlogic Holdings said in an earlier filing that it wanted buy 53. 16 percent of Asian Alliance held by Asia Capital PLC and […]
Tablet Wars
SAN FRANCISCO, August 12, 2011 (AFP) – US technology giant Hewlett-Packard (HP) on Thursday cut the price of its freshly-launched TouchPad tablet computers in a bid to gain traction in a market dominated by Apple’s iPad. TouchPads with 16 gigabytes of memory were offered on the HP website for $400 and models with 32 gigabytes […]